Looking at the German30 we can see a solid rising wedge pattern formed, and running out of room.
Although we are not ready to enter a trade quite yet, we can start planning our trade now.
Should there be a downside break as expected the pattern shows about a ~520$ move should be expected. Multiply that by our chances of reaching the target (0.63 or 63%)
we get a target of ~329$ from our break point.
SO our basic trade plan:
Entry: after a bar closes beyond the bottom of the wedge (risky), or after one full bar opens and closes beyond the pattern (fully confirmed)
TP: 325$-330$ from break point
SL: At the top of the pattern, around 13200-13250
R/R: should be approximately 2
ALL of these numbers are subject to change once the pattern actually breaks.
Pattern information and accuracy ratings here: thepatternsite.com/risewedge.html
Although we are not ready to enter a trade quite yet, we can start planning our trade now.
Should there be a downside break as expected the pattern shows about a ~520$ move should be expected. Multiply that by our chances of reaching the target (0.63 or 63%)
we get a target of ~329$ from our break point.
SO our basic trade plan:
Entry: after a bar closes beyond the bottom of the wedge (risky), or after one full bar opens and closes beyond the pattern (fully confirmed)
TP: 325$-330$ from break point
SL: At the top of the pattern, around 13200-13250
R/R: should be approximately 2
ALL of these numbers are subject to change once the pattern actually breaks.
Pattern information and accuracy ratings here: thepatternsite.com/risewedge.html
Dagangan aktif
Entering trade here ~13059TP: ~12725
SL: previous swing high ~13200
Dagangan ditutup: sasaran tercapai
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.